RIO DE JANEIRO, BRAZIL - Of the total US$334.2 billion that Brazil held in international reserves by the end of May this year, some US$264.4 billion were allocated in US Treasury bonds. It is the fifth-largest holder of Treasury bonds in the world.

The leader is Japan, which passed China in May 2019 and currently holds approximately US$1.272 trillion in US government bonds, according to the most recent data released by the US Treasury Department.

In the second place, the Chinese economy holds about US$1.082 trillion of its international reserves in Treasuries . . .

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